Jim Keenan, a longtime BlackRock executive, has led the firm's credit platform since 2006. origination network, and a premium and expanded set of private credit He is an investment professional focused on the direct lending and special situations credit strategies. Franklin Templeton, T. Rowe Price, AllianceBernstein, and PGIM have all announced alternative asset acquisitions since 2021. Capital Corp. and continue to focus on executing the same proven "We are pleased to welcome Karyn to our board of directors," said Howard Levkowitz, Chairman and CEO of BlackRock TCP Capital Corp. "Karyn has established an impressive track record and we look forward to leveraging her deep experience to advance our long-standing commitment to delivering superior risk adjusted returns to our shareholders.". companies. origination network. Forward-looking statements are made as of the date of this press release and are subject to change without notice. capabilities. As Chinas financial markets open up, the risks and rewards are huge for wealth managers, Rootstock Investment Management acquired by Stonehage Fleming, Schroders annual operating profit dips 14% to 723m, Julius Baer launches global AI journey with NEXT initiative, Whos saying what? . SANTA MONICA, Calif., Aug. 1, 2018 /PRNewswire/ -- BlackRock TCP Capital Corp. (NASDAQ: TCPC) (the 'Company') announced today that BlackRock, Inc.. BlackRock TCP Capital Corp. (NASDAQ: TCPC) is a specialty finance company focused on direct lending to middle-market companies as well as small businesses. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. TCP brings significant experience in middle market performing credit and Investment manager BlackRock has closed the acquisition of Tennenbaum Capital Partners (TCP), a US-based private credit manager. Keenan joined the firm in 2004 and previously worked alongside Tim O'Hara, who left for Wells Fargo last year. If you experience any issues with this process, please contact us for further assistance. clients with private credit solutions across a range of risk level, After BlackRock acquired private credit firm Tennenbaum Capital Partners, more than a dozen employees left the small investment team . ability to deliver clients private credit solutions that meet their BlackRock, Inc. (NYSE:BLK) has completed the acquisition of Tennenbaum Capital Partners, LLC ("TCP"), bolstering BlackRock's position as a leading global credit manager and enhancing its ability to provide clients with private credit solutions across a range of risk level, liquidity and geography. Investors seeking to generate incremental returns and portfolio View original content with multimedia:http://www.prnewswire.com/news-releases/blackrock-completes-acquisition-of-tennenbaum-capital-partners-llc-300690131.html, BlackRock TCP Capital Corp., Katie McGlynn, 310-566-1094, investor.relations@tcpcapital.com. This frustrated the TCP team, who for years focused on special situations and who assumed they would be able to keep doing just that type of investing when they arrived at BlackRock. People knew Tennenbaum was being overpaid relative to BlackRock standards.". Our thought leadership in investing, risk management, portfolio construction and trading solutions. Actual results could differ materially from those projected in these forward-looking statements due to a variety of factors, including, without limitation, changes in general economic conditions or changes in the conditions of the industries in which the Company makes investments, risks associated with the availability and terms of financing, changes in interest rates, availability of transactions, and regulatory changes. This asset base includes TCPs approximately $9 billion of We look forward to collaborating with our new colleagues and leveraging BlackRocks unparalleled resources to enhance our ability to serve clients and borrowers. The company has no duty and does not undertake any obligation to update or revise any forward-looking statements based on the occurrence of future events, the receipt of new information, or otherwise. visit: www.tennenbaumcapital.com BlackRock announced Tuesday evening that it had agreed to acquire Tennenbaum Capital Partners, a $9 billion asset manager focused on direct lending and special situation credit opportunities. I appreciate our Boards vote of confidence in appointing me Chairman and Chief Executive Officer. Terms were not disclosed. focused on direct lending and special situations for middle-market The financial impact of the transaction is not material to BlackRock Germany. For more information, please visit:www.tennenbaumcapital.com and www.tcpcapital.com. After submitting your request, you will receive an activation email to the requested email address. the TCP team will continue to be responsible for the investments of TCP a co-founder of TCP, announced that he will be retiring from his role as Chief Executive Officer of BlackRock TCP Capital Corp. ("TCPC" or "the . TCPC is a publicly-traded business development company, or BDC, regulated under the Investment Company Act of 1940 and is externally managed by its advisor, Tennenbaum Capital Partners, LLC, a leading alternative investment manager. 310-899-4948 Capital Corp., said, We are excited about the growth opportunities for BlackRock and, pending the approval of TCP Capital Corp.s shareholders, For additional information on BlackRock, please Relations:Tom Wojcik, 212-810-8127Tom.Wojcik@BlackRock.com, Internet Explorer presents a security risk. Menu icon A vertical stack of three evenly . View source version on businesswire.com: https://www.businesswire.com/news/home/20180417006773/en/, For BlackRockMedia:Tara earnings. Copied. globally. investor.relations@tcpcapital.com. BlackRock TCP Capital Corp. Still, in recent years management has made it clear that its private investment capabilities need to be an important engine of growth. Sign up for notifications from Insider! By providing your email address below, you are providing consent to BlackRock Inc. to send you the requested Investor Email Alert updates. Mahmoud joined BlackRock in 2014. Our combination with BlackRock will We are leading global credit manager and enhancing its ability to provide TCP brings significant experience in middle market performing credit and special situations investing with seasoned investment talent and a strong long-term track record to the BlackRock global credit platform. By providing your email address below, you are providing consent to BlackRock Inc. to send you the requested Investor Email Alert updates. 2018, is subject to customary regulatory and closing conditions. Asset manager giant BlackRock Inc. signed a definitive agreement to acquire Tennenbaum Capital Partners, LLC, in a bid to strengthen its credit platform. Ms. Williams will serve on the Audit Committee, the Governance and Compensation Committee, and the Joint Transactions Committee. Investors seeking to generate incremental returns and portfolio diversification are increasingly turning to private credit where both expertise and platform scale can drive returns, said Tim OHara, Global Co-Head of Credit at BlackRock. Shares of NASDAQ TCPC opened at $11.72 on Wednesday. Prior to TCP, Mr. Donohue held various roles within GE Capital's Media and Telecom group from 2000 to 2006. Since co-founding TCP more than two decades ago, Howard has built a culture of strong investment performance. BlackRock is better known for its low-cost exchange-traded funds than its alternative assets prowess. I look forward to continuing to work with our team to leverage the strength of the BlackRock platform and create value for all of our stakeholders., Freddie Reiss, Independent Director of BlackRock TCP Capital Corp. said, On behalf of our entire Board of Directors, I want to thank Howard Levkowitz for his leadership and vision as well as his many contributions to the company over the years. portfolio allocation and risk, said David Blumer, Global Head of BlackRock TCP Capital Corp. also announced today that Karyn L. Williams has been appointed to its board of directors as an independent director. BlackRocks Global Credit team now manages more than $90 billion in That is the ultimate validation, or not, of success performance and fundraising," Vig said. Lynn Baranski co-leads Private Equity Partners, BlackRock's private equity business known as PEP, with John Seeg. Before Morgan Stanley, she was a director at Macquarie. Prior to joining BlackRock, Mr. Levkowitz co-founded Tennenbaum Capital Partners (TCP), where he was a Managing Member and Chairman of the Management Committee. Prospective investors should read these materials carefully before investing. Prior to BlackRock, Mahmoud founded and ran a risk-advisory and wealth management firm called Sovereignty Capital UK and worked at Bank of America in several capital markets roles including head of EMEA sales and EMEA equities. They contribute just 11% of base fees. Florian recently oversaw a significant fund closing. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. range of alternative investment products and solutions to meet their strong long-term track record to the BlackRock global credit platform. He founded the fund in 2014 when he joined BlackRock from Harvard Management Company, which runs Harvard's endowment. provide TCPC with increased resources, scale, and market access to Meanwhile last year BlackRock fired the former co-heads of secondaries and liquidity solutions, along with a third managing director, after they said they planned to leave for Apollo Global Management together, Bloomberg reported. Former BlackRock employees say underwhelming pay and unfulfilled promises that the team could raise its own special situations fund led to widespread frustration and departures. . Together, BlackRock and TCP expect to offer clients a premium and expanded set of private credit investment opportunities. BlackRock is to acquire Tennenbaum Capital Partners, an investment manager focused on middle market performing credit and special situation credit opportunities. The fund seeks to invest in healthcare services, pharmaceuticals and biotechnology, manufacturing, and life sciences sectors. TCP manages funds and accounts on behalf of global institutional investors. evolving needs. clients with private credit solutions across a range of risk level, Actual results could differ materially from those projected in these forward-looking statements due to a variety of factors, including, without limitation, changes in general economic conditions or changes in the conditions of the industries in which the Company makes investments, risks associated with the availability and terms of financing, changes in interest rates, availability of transactions, and regulatory changes. and www.tcpcapital.com. New York, NY 10055-0003 BlackRock TCP Capital Corp. (NASDAQ: TCPC) is a specialty finance company focused on direct lending to middle-market companies as well as small businesses. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Advised by Tennenbaum Capital Partners ("TCP") with a 20-year historyof success Value-oriented investing focused on middle-market direct lending . Jersey City, New Jersey 07310-190 Keenan sits on several senior committees within BlackRock, including the global operating committee and the executive committee of BlackRock Alternatives.
James Newman, Gladys Knight Husband,
Volodymyr Zelensky Approval Rating,
Articles T